The bill establishes a tax credit program for owners of resilient buildings in Florida, specifically those with certain Leadership in Energy and Environmental Design (LEED) certifications. Owners can apply for a tax credit against their tax liability, which is limited to one claim per building and must be submitted to the Department of Business and Professional Regulation by March 1 of the year following the building's LEED certification. The tax credit amounts vary based on the level of LEED certification and can be claimed for up to five years, with provisions for carrying forward or transferring unused credits. Additionally, the bill creates the Florida Resilient Building Advisory Council to enhance resilient building practices and hurricane resiliency, consisting of members from educational institutions and appointed experts. The bill includes several amendments to Florida Statutes, particularly regarding the advisory council and the Department of Revenue. It mandates that the advisory council receive administrative assistance in performing its duties and sets a review date for the council by October 2, 2028, unless reenacted. The Department of Revenue is also authorized to share information related to section 220.197 with the Department of Business and Professional Regulation under confidentiality agreements. Furthermore, the bill modifies the order of tax credits against corporate income and franchise taxes by adding those enumerated in s. 220.197 and updates the definition of adjusted federal income to include the amount taken as a credit for the taxable year pursuant to s. 220.197. The act is set to take effect on July 1, 2025.

Statutes affected:
S 62 Filed: 213.053, 220.02, 220.13
S 62 c1: 213.053, 220.02, 220.13